Listed by Blvd Real Estate Investment Co
$3,080,000
Infill Silicon Valley Low Rent STNL - AdaptHealth
Details
APN 439-16-099
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 7,600
Units 1
Cap Rate 5.50%
Occupancy 100%
Tenancy Single
Lease Type NNN
Year Built 1931
Acreage 0.380
Zoning C1
Investment Type Stabilized
Ground Lease No
Signalized Hard Corner on High Profile Lincoln Ave
Marketing description
- Price: $3,080,000
- Net Operating Income: $169,428 / Avg $1.86 PSF
- Description: Low rent single-tenant NNN asset at a Prime infill site within the affluent Willow Glen neighborhood in San Jose
- Tenant: Brannon's Rental and Sales, Inc. a subsidiary of AdaptHealth (NASDAQ: AHCO)
- Term: 5 Years (recently waived one time termination right)
- Scheduled Rental Increases: 3% Annually
Investment highlights
- Rare Silicon Valley Investment Opportunity in the highly affluent and desirable Willow Glen / Lincoln Avenue corridor in San Jose, CA
- Long Term Operator - Brannon’s Medical (Lessee) is a successful long term operator (50+ years) at this location. Lessee recently waived their one-time right of early termination.
- Nationally Traded Parent Company - Brannon’s Medical is a wholly owned subsidiary of AdaptHealth NASDAQ (AHCO) with $3.5B in revenue
- Low Rents / Future Upside - with $21 PSF average in place rents, nearby rental survey shows rents ranging from $31 to $60 PSF along Lincoln Ave Future upside with higher rent possible with demising into multiple attractive storefrontshop units
- NNN Lease – minimal Landlord responsibilities; ideal 1031 exchange opportunity
- Strong Visibility and Access - ideally situated at hard corner intersection of Lincoln Ave and Malone Rd (38,084 VPD at intersection)
- High Barriers to Entry Market - Infill trade area
- Dense / High Income - Affluent Silicon Valley Location - The average household income within a 1-mile radius of the subject property is over $167,000, additionally there are over 645,000 residents living within a 5-mile radius
Listing Contacts
Listed by Blvd Real Estate Investment Co
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